Consolidator Fairstone Group has completed the acquisition of IFA McParland and Partners for an undisclosed sum.
Fairstone operates what it calls a “downstream buyout” model in which it takes a minority stake in advice firms then integrates them into the business before acquisition.
It first started working with McParland and Partners in 2014.
The advice firm, based in Lancashire and with offices in Manchester and Sheffield, brings around £160m in funds under management and 2,000 clients.
Eight advisers and 15 support staff have joined Fairstone as part of the deal.
Fairstone chief executive Lee Hartley says: “McParland and Partners boasts a senior team of chartered financial planners, supported by highly experienced staff, which creates an ideal fit for a chartered group such as Fairstone.
“Their consistent, client-centric approach is vital as we move into a period of political and economic uncertainty and we very much look forward to our continuing work with the team.”
McParland and Partners principal Sean McParland says: “The acquisition by Fairstone means our clients can look forward to a continuation of the high quality of advice and service they have enjoyed.
“The strength of Fairstone’s technology input will provide significant opportunities to continue to grow the business well into the future and to leverage a national brand of chartered financial advisers.”